Global Ship Lease (NYSE:GSL) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Global Ship Lease (NYSE:GSL) announced its quarterly earnings data on Monday. The shipping company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.43 by $0.02, RTT News reports. Global Ship Lease had a net margin of 46.38% and a return on equity of 28.59%. The firm had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. During the same quarter last year, the business earned $2.33 earnings per share.

Global Ship Lease Trading Up 5.1 %

Shares of NYSE GSL traded up $1.18 during midday trading on Wednesday, reaching $24.43. 470,440 shares of the stock were exchanged, compared to its average volume of 559,216. The company has a market capitalization of $900.31 million, a P/E ratio of 2.63 and a beta of 1.62. Global Ship Lease has a 52-week low of $17.40 and a 52-week high of $30.32. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average price of $24.53 and a 200-day moving average price of $25.95.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.37%. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.61%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GSL shares. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th. Jefferies Financial Group restated a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a report on Monday. Finally, Clarkson Capital upgraded shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th.

About Global Ship Lease

Global Ship Lease, Inc, together with its subsidiaries, engages in owning and chartering of containerships under fixed-rate charters to container shipping companies worldwide. As of March 11, 2024, it owned 68 mid-sized and smaller containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 375,406 TEU.